> You cannot tax an asset that does not move. Property tax taxes an asset that doesn't move, literally and figuratively. Before financial markets exploded, and

> You cannot tax an asset that does not move. Property tax taxes an asset that doesn't move, literally and figuratively. Before financial markets exploded, and especially in agrarian societies like the United States at its founding, a property tax was effectively a wealth tax. (It still is a wealth tax, technically speaking, it just no longer reaches the wealth of the richest in society.) > In what intervals would you do this? In whatever interval you'd like. Presumably yearly. But don't companies have to "mark-to-market" for their quarterly reports? > Your bank account would go to zero. This is already the case with inflation, very deliberately so. I can't say I'm a fan of a wealth tax. And in any event I don't think it'll ever happen in the U.S. But the reasons for disliking a wealth tax are more complicated than the above.